JPMorgan Rises on Earnings, Texas Instruments Slides, Newmont Soars
Apr 11, 2025
JPMorgan Chase reports record earnings, driven by surging trading revenues amid market chaos, while CEO Jamie Dimon warns of economic turbulence. Meanwhile, Texas Instruments faces a sharp drop in stock value due to new tariffs on semiconductor imports from China. In a contrasting trend, Newmont's shares soar as gold prices rise, reinforcing its status as a safe haven in turbulent markets. The hosts discuss optimistic insights from the Federal Reserve, hinting at a potentially stable market ahead.
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insights INSIGHT
JPMorgan's Performance and Dimon's Outlook
JPMorgan Chase's stock traders achieved record revenue in Q1 2024, driven by market volatility following President Trump's policy announcements.
CEO Jamie Dimon expressed caution about the US economy's future, citing geopolitical turbulence, potential trade wars, and high asset prices.
insights INSIGHT
China's Impact on US Chipmakers
US chipmakers with domestic plants, like Texas Instruments, faced declines after China announced tariffs targeting semiconductor imports.
The tariffs are based on manufacturing location, not country of origin, impacting companies like Texas Instruments and Intel.
insights INSIGHT
Challenges in Relocating Chip Production
Relocating semiconductor fabrication plants, like those of TSMC, is complex and time-consuming.
This complexity is evident in the market reactions to China's tariffs.
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- JPMorgan Chase's (JPM) stock traders took in a record haul in the first quarter, boosted by chaotic market moves set off by President Donald Trump’s policy announcements after he took office in January. The biggest US bank boosted equities markets revenue 48% to $3.81 billion, trouncing analysts’ expectations as well as the firm’s previous stock-trading record set four years ago. Still, Chief Executive Officer Jamie Dimon struck a cautious tone about prospects for the US economy in a statement Friday accompanying the results. “The economy is facing considerable turbulence (including geopolitics), with the potential positives of tax reform and deregulation and the potential negatives of tariffs and ‘trade wars,’ ongoing sticky inflation, high fiscal deficits and still rather high asset prices and volatility,” Dimon said in the statement.
- Shares of chipmakers with US manufacturing plants, like Texas Instruments (TXN) fell Friday after China announced new tariffs, targeting semiconductor imports. Beijing will raise tariffs on all US goods from 84% to 125%, and the China Semiconductor Industry Association issued an emergency notice, which stated that customs determines the origin of imports by where chips are manufactured, not the home country of origin. The news put particular pressure on Texas Instruments and Intel, which have semiconductor plants located in the US. TI shares fell 6.8%, while Intel sank 3.7%
- Shares of Newmont (NEM) rose after UBS analyst Daniel Major upgraded the gold miner to "buy" from "neutral" and hiked the price target to $60 from $50 before the opening bell on Friday. The comes as gold rose to a record above $3,200 an ounce, as concerns about the impact of tariffs on the global economy boosted bullion’s appeal as a haven for investors. Prices gained as much as 1.9% to $3,237.89 on Friday, eclipsing the previous all-time high posted Thursday. Prices headed for a weekly increase of about 6%. Gold’s haven status has been underlined this week, with President Donald Trump’s flip-flopping on tariffs sparking frantic selloffs for US stocks, bonds and the dollar, as fears of a worldwide recession engulfed Wall Street.
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